A Conversation With M&A Healthcare Advisors, a Newly Launched Boutique Advisory Firm Focused on Healthcare M&A

The healthcare editorial team at Irving Levin Associates sat down with industry veterans Mike Moran and Andre Ulloa to discuss the launch of their new advisory firm, M&A Healthcare Advisors (MAHA), and the state of the healthcare M&A market. MAHA aims to transform the M&A experience for lower-middle market healthcare business owners by providing highly accessible, transparent and experience-driven seller-representation services throughout the entire sale process.

What motivated you to launch the new firm?

Andre: We saw a huge void when it came to lower-middle market seller representation in the healthcare industry. These smaller healthcare agencies are often overlooked by investment banks and other advisory firms given the anticipated size of the transaction. We are nimbler than a larger bank and can provide the much-needed representation for those smaller healthcare businesses. Combined, our team has more than 20 years of experience in the healthcare M&A space. In that regard, our clients can expect a high level of expertise, as we handle all aspects of the transaction, other than legal. Our goal is to manage the sale process so our clients can remain focused on operating their business and, most importantly, continue to care for their patients. Our representation is particularly important as more financial investors, such as private equities, enter the healthcare market and bring with them a high-level of scrutiny in the due diligence process. As advisors, we protect the sellers’ interests throughout negotiations, which usually means maintaining their valuation by anticipating where the buyer intends to adjust the terms of the deal.

Mike: To add to that, a company’s valuation could be affected by hiring the wrong advisory firm. Not having the proper guidance for a transaction could be detrimental to a valuation and finishing a deal. We guide our clients through the entire sale process including managing all aspects of due diligence, which is usually lengthy, time consuming and complex.

You’re launching the new firm at a time of unprecedented activity in the healthcare M&A market. What is driving so much activity? Are there any sectors or type of companies in high demand that you’re seeing?